AMERESCO : New Jersey's Somerset Hills School District Selects Ameresco to Perform a $3.2 Million Energy Conservation Upgrade
02/25/2011| 11:55am US/Eastern
Ameresco, Inc., (NYSE:AMRC), a leading energy
efficiency and renewable
energy company, announced today that it has entered into a 15-year
Energy Savings Improvement Program (ESIP) project with the Somerset
Hills School District in Bernardsville, New Jersey. Upon construction
completion, the District is expected to realize over 23 percent in
savings off its current total annual facility operational spend. The
improvements are budget-neutral and expected to save New Jersey
taxpayers millions of dollars. By utilizing the New Jersey ESIP,
Somerset Hills School District is going to have much needed capital to
reinvest in energy saving improvements throughout the District. After
construction is completed and over the 15-year term of the agreement,
the project is designed to generate more than $5,270,000 in energy and
facility operational cost savings for the District.
?We are pleased to partner with Ameresco on these critical
infrastructure upgrades that will ensure our facilities operate more
efficiently for years to come,? said Nancy Lee Hunder, Business
Administrator and Board Secretary of the Somerset Hills School District.
?We are proud to be one of the first New Jersey public school districts
to utilize the new ESIP legislation to save taxpayers the added expense
to upgrade existing District assets and allow our leadership to focus on
other important areas.?
The Somerset Hills School District is expected to realize a significant
reduction in annual utility costs while modernizing existing assets
without the need for any capital dollar contributions. All improvements
will be 100 percent program financed. This New Jersey ESIP legislation
allows for project funding to be realized through the guaranteed energy
cost savings of the project. With assistance from Ameresco, a
third-party lender was competitively selected by the District.
Additionally, as a result of implementing this ESIP, the District is
expected to receive over $320,000 in energy rebates/incentives from the
NJ Board of Public Utilities Office of Clean Energy; Pay-for-Performance
?We commend Somerset Hills for its vision and leadership while serving
as a model for other New Jersey school districts,? said David J.
Anderson, Executive Vice President of Ameresco. ?We are excited to help
Somerset Hills identify and implement these capital improvements that
will result in valuable, long-term energy saving measures for the
students, their facilities and the community.?
Ameresco developed, engineered, and is constructing 14 fully
self-funding energy conservation measures throughout the District. These
measures include: lighting system improvements, lighting controls
integrated management system, a new energy management system, Vending
Mizers, PC load management, boiler replacements, kitchen hood controls,
water conservation, kitchen pre-rinse sprayer, energy procurement,
window replacements, infiltration reductions, ice storage schedule
modifications, and energy efficient transformers.
In total, over the 15-year project, it is estimated that it will negate
over 10,000 tons of carbon dioxide emissions, the equivalent of taking
1,784 passenger vehicles off the road.
About Ameresco, Inc.
Ameresco, Inc. was incorporated in Delaware in April 2000 and is a
leading independent provider of comprehensive energy efficiency and
renewable energy solutions for facilities throughout North America.
Ameresco's solutions include upgrades to a facility's energy
infrastructure, and the development, construction, and operation of
renewable energy plants. With corporate headquarters located in
Framingham, MA, Ameresco has 55 offices in 29 states and four Canadian
provinces. For more information, visit www.ameresco.com.
CarolAnn Hibbard, 508-661-2264
© Business Wire 2011